Firm Expands Access To Short-term Capital With N6.89bn Commercial Paper Listing

FMDQ Securities Exchange Limited has approved the quotation of Sycamore Integrated Solutions Limited’s N6.89 billion commercial paper (CP) on its platform.

The commercial paper comprises N1.82 billion Series 1 Tranche A and N5.07 billion Series 1 Tranche B, under its N20.00 billion CP Programme.

This approval by the Exchange’s Board Listings and Markets Committee further reflects FMDQ Exchange’s commitment to fostering an efficient, transparent, and resilient debt capital market that connects issuers with capital and supports sustainable economic growth.

FMDQ, in a statement, said the net proceeds from the CP issuances, sponsored by BAS Capital Limited, will be deployed to strengthen the Issuer’s working capital base, support the growth of its lending portfolio, and enhance its capacity to deliver its financial service offerings to emerging market segments.

Speaking on the CP quotation, Group chief operating officer, FMDQ Group, Tumi Sekoni stated, “The quotation of Sycamore Integrated Solutions Limited’s Series 1 Tranche A and B Commercial Papers on FMDQ Exchange reflects the confidence of Nigeria’s corporate sector in the depth and integrity of our platform. At FMDQ Exchange, we remain committed to enabling businesses of all sizes to access the capital markets efficiently and transparently, and Sycamore’s presence on our platform is a testament to the growing vibrancy of Nigeria’s short-term capital markets.

“We are pleased to support Sycamore as it advances its growth ambitions and expands access to financial solutions that contribute to economic development and financial inclusion.”

Sycamore Integrated Solutions Limited is a technology-driven financial services company dedicated to delivering innovative, accessible, and transparent credit and digital financial solutions to individuals and businesses across Nigeria. By leveraging its proprietary technology infrastructure, Sycamore provides a suite of credit products that support financial inclusion and economic activity.